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in the washington area to send a message to congress. baristas will be writing come together on coffee cups for the rest of the workweek. ceo howard schultz says he wants to send a respectful, but potent message. >>> new figures show u.s. home prices are higher than a year ago. today's kay shiller price report shows prices in the 20 largest markets were up more than 4% in october. prices in the bay area are up own moore, jumping 8.9%. phoenix topped the list, with prices up 22%. experts say higher prices are an indicater of continued economic recovery. >>> samsung is looking for a big increase in sales next year. close to 400 million phones are expected to be smart phones. >>> after 35 years, the restaurant is closing its doors for good. the fans are saying goodbye to the owner. >> i'm just crushed. >> tony cruz says he was hoping a miracle would save his restaurant, but that miracle never materialized. the landlord plans to demolish the restaurant for a new building. he says he will miss his customers. >> wonderful people. i will miss the energy. their love. >> cruz says the doors will cl
employees in the washington area to send a message to congress. baristas will be writing come together on coffee cups for the rest of the workweek. ceo howard schultz says he wants to send a respectful, but potent message. >>> new figures show u.s. home prices are higher than a year ago. today's kay shiller price report shows prices in the 20 largest markets were up more than 4% in october. prices in the bay area are up own moore, jumping 8.9%. phoenix topped the list, with prices up 22%. experts say higher prices are an indicater of continued economic recovery. >>> samsung is looking for a big increase in sales next year. close to 400 million phones are expected to be smart phones. >>> after 35 years, the restaurant is closing its doors for good. the fans are saying goodbye to the owner. >> i'm just crushed. >> tony cruz says he was hoping a miracle would save his restaurant, but that miracle never materialized. the landlord plans to demolish the restaurant for a new building. he says he will miss his customers. >> wonderful people. i will miss the energy. their love. >> cruz says th
to reason together. why should it be any different or any better in a new congress? >> what does it say about the state of our politics? that these elected officials, manufactured a crisis and can't get themselves out of the box that they constructed? >> what does it say? it says that we don't have just an ideological divide. we have a crisis of self-government right now. to be real clear about it. this is a time bomb that congress set. nobody wants to see frustration cuts. but that's the stick they put to their own head as a way of compelling a deal to get done. and a deal doesn't get done. we're not even aiming for the grand bargain that is necessary to reduce long-term deficits and debt. we're going to get a patch and be here again in two months. congress can't get out of its own way. we keep setting our own traps. >> john, we appreciate the clarity, even if it's depressing. thank you very much. >>> a lot of other news developing overnight. for that, let's check in, as always, with mr. ron claiborne. >> hi, dan, bianna. we begin in australia, with a confrontation with a shark. it cos
, pass it. nothing like bringing in the new year with a good old fiscal cliff get it together congress. henry is on our independent line, henry, good afternoon, this is c-span and you're on. caller: good afternoon. i'm an independent and i wanted to comment that i guess the democrats have to be cause shouse that the republicans don't wake up and take the position they have in a catch 22 position. they can give him everything he asked for and if he's successful in his programs and his plans, we are the republican party and the house gave you ever dollar you asked for, everything worked out fine and turn around to the american public and say it was us, the republicans that did this. if it doesn't work out they can turn around and say, well, we gave you everything you asked for and it didn't work. it time for us to take over. just a word of caution to the democrats. >> connie in south carolina. good afternoon. caller: happy new year. i was calling about that speech actually. the house did pass a bill in august and it seems like the house democrats are talking like, you know, no bill was p
. let me repeat. we can't not pay bills that we've already incurred. if congress refuses to give the united states government time to pay these bills on time, the result will be catastrophic. hopefully we will focus on seeing if we can put a package like this together with a little bit less drama, a little less brinksmanship, not scare the heck out of folks quite as much. >> the president doesn't want to scare us quite as much. nbc's tracie potts is on capitol hill. that was a new year's day to remember. >> it was. it was just in time for many americans who were concerned for tax rates going up. couples who make $450,000 or more will have higher tax rates here. you heard the president also talking about or eluding to the debt ceiling, that's a fight the congress still has to deal with, as the president made reference to paying those bills we already incurred. john boehner was able to gather together 85 votes in favor of this bill, overwhelmingly passed in the stat. not as much -- most republicans voted against it in the house. in the end they were able to get it past. not mention
that funds the government is also set to expire in march. you add three things together with this. congress has got to vote to raise that debt ceiling. unclear what move the president has there and the republicans are going to play that card to the max, chris. >> if people thought what they just saw was ugly, i say, just wait. kelly o'donnell and mike viqueira, thank you, guys. get some sleep. one deal is finally done, but who has the upper hand as we head into triple jeopardy, the coming budget fights. domenico montanaro is here with this morning's first read. i don't think anybody comes across great here, domenico, but i was struck and maybe this was inevitable, but we had a lot of conservatives coming out, saying this is a terrible deal as we had a majority of the majority voting against it. we asked kelly about john boehner's speakership. the vote is tomorrow for him to be speaker of the 113th congress. it doesn't seem like there's anything emerging. i'm a little baffled, not because i think he should be ousted, but you've seen this level of resistance, where he was cut out of the final
frontier. we are all in this together, white house, congress, international partners and many u.s. companies that operate the capabilities. in think this committee for holding this hearing today. i will be happy to answer any questions you might have. >> thank you. i think all of you for your testimony. the committee limits questioning to five minutes for each of us. i will open a round of question. i do not ever like to say this is my last day. i do not anything last. i do not even like them to call an airport a terminal. i am thinking of the wonderful testimony you have given in the time it took you to get that ensued deliver it to us. it is great and generous. i glean from each of you that there is this need for more funds. they recommended $3 billion additional for nasa. this would not have even brought us up to 1% of the overall budget. three presidents turn their backs on us. things could be different today. you suggested several modifications. i have a question or so what reaction has your committee received with regard to the recommendations you lay out? you said a means
way. my colleagues, let's join together today. let's show the american people that this congress is not broken. that we are not so dysfunctional that we can't at minimum work together, come to agreement, compromise. let's get this done. this is too important for the american people to let this go one more day. please join me in supporting the fiscal cliff bill today. yield back my time. the speaker pro tempore: the gentleman yields back. for what purpose does the gentleman from virginia seek recognition? >> i ask unanimous consent toe address the house for one minute -- to address the house for one minute. the speaker pro tempore: without objection, the gentleman from virginia is recognized for one minute. mr. connolly: thank you, mr. speaker. we are about to have a hold your nose vote here in the house of representatives. and many of us are going to wrestle with the problem of making perfect be the enemy of the good. we do have an opportunity to stabilize taxation for 899 -- 99% of all americans. to extend appreciation and investment expansion for small businesses. to make sure
a wayy to come together and get something done. >> this is not the fault of ngress. congress is behaving likee congressss. this is the president's fault. he needs to go to the countryy and explain why they need to get this done. he has never done that. >> we are in different universes. i have heard him talk about it over a and over, incessantly about where we should not go over the fiscal cliff. it is congress's fault. congress created this fiscal cliff. no one else to impose this on them. it is a self-imposed problem. >> the problem is that the president has never ge to the nation and made a serus speech about debt. he ignored it the first two years. he appoints aommission that he studiously ignores for the nextt two years. that is why we are at the fiscal cliff now. he is not serious about that. none of his proposals the raise taxes on the ridge. it is 8 cents on the dollar. it is a trivial amount money, and he has never put any political capital in entitlemement reform. you talk aut it here or there. never invested in the capital in it. >> i think we have a difference of opinion here.
of congress. but there are views on levels like harry and mcconnell has been able to come together before. it's not a mcconnell, reed, it's about the house republicans that have to vote and the president. the core question is, is there a deal out there that the house republicans and the tea party members and president obama can approve of. that is the question as we look forward. >> we should say, that they are both nationals fans. >> i have to cut the conversation short. thank you so much, i do want to let the viewers know that we just got an update, developing news from houston where a bush family spokesman has confirmed that former president george h. w. bush has been moved from the icu to a regular patient room at the methodist hospital to continue his recovery, the bushes thank everyone for their prayers and good wishes. so again, on the saturday afternoon, 88-year-old former president is out of the hospital, the we will be right back. ♪ announcing the all-new 2013 malibu from chevrolet. ♪ with a remarkable new interior featuring the available chevrolet mylink infotainment system. th
the conference board. so new year's eve is usually one time when everyone can cheer together. let's be real. if congress drops the ball before the ball drops this year, americans will have yet another reason to feel divided and frustrated with their leaders. we had the election and holidays. now the question is whether congress will make a new year's resolution to actually get things done. we have a great panel assembled here. i want to start with you, maggie. no one is dash optimistic. senators have to say that as opposed to admitting things don't look good as we just reported there are indications from at least a pew gop sources that there is this deal on the table. 400,000 at the tax level would not be very favorable to the president's so-called final offer. what do you make of it? >> i think that -- i make of it we are hitting hard deadline and i think all sides are aware this will be problematic for everybody. i think you can make the argument it will be worse for republicans long term than in the short term. markets will open on wednesday and it will be a mess. it will be a mess going
as a congress have the responsibility and tradition of working together, democrat and republican, to help communities rebuild. our citizens are counting on us to help them recover from this storm and mitigate future disasters. i urge, i respectfully urge house leadership to reconsider their decision. support the victims of hurricane sandy. put politics aside. do the right thing. people are waiting. people need this assistance. let's bring the bill to a vote today. the speaker pro tempore: the gentlelady's time has expired. the chair recognizes the gentleman from new york, mr. king, for five minutes. mr. king: thank you, mr. speaker. at the outset let me thank you for your service during the time of congress and thank you very much for your remarks here this morning. i think it's important to set the record straight. last night many of us came to the floor and rightfully said that the conduct of the republican leadership was disgraceful, it was indefensible and immoral. i think it's important to lay out the facts as to how we reached this situation so we are not put in the position of name
>> time is running out to prevent going over the fiscal cliff. congress needs to reach an agreement. the deadline is days away. a celebration of family and culture. baltimore residents are coming together to observe the holiday. >> the rest of the weekend looks good. we will check the forecast in a few minutes. >> you are watching wbal-tv 11. this is 11 news at 6:00. >> in just 48 hours, taxes could go up substantially. president obama and house speaker john banner could not reach a compromise. it is now up to the leaders of the senate to try. they are working on a plan today. they're hoping to bring it to lawmakers to mark. >> as senate leaders work behind closed doors, president obama and republicans issued it messages on the web. >> we cannot afford itself- inflicted when to the economy. the economy is growing. keeping it that way means the folks you sent to washington have to do their jobs. >> if the nation goes over the fiscal cliff, each side says the other is to blame. correct we can still avoid going over the fiscal cliff if the president and senate step forward and work wit
is the urgency? why isn't congress doing something about this and coming together? >> i know you've used the term sense of urgency, but i think people want common sense and that's common ground. there will be a sense of urgency if we fail to avoid the fiscal cliff, go over it and the markets react badly to it. right now people want us to come together in a bipartisan way. the absolute has to be bipartisan in the house. we've seen that in the last week. not even plan b, which is an unreasonable alternative to the too,000 threshold was able to garner a majority in the house of representatives. the speaker can't sell it to his own party, so i think he has to craft a bipartisan solution one way or the other, put aside the politics here. the nation's economic will suffer. >> should it come from the senate or from the house? >> i don't think it matters where it originates, but the point is the senate has already passed a bill that represents a reasonable compromise. extend the 250 -- the tax cuts for all incomes up to $250,000, and everybody would benefit on that first $250,000 of income. that it not o
lot of confidence for folks who feel like congress can't get their act together. >> we'll stay on top of this with you, brow anna. joining us is one of the people who will vote on that deal. con man jason chaf fwnch etz, a republican from utah. and a member of the oversight committee. thank you for being with us. what do you think is happening today? >> good morning, happy new year. let's make sure we use your morning voices, because we wouldn't want the senate to get up too early. they'll reconvene at 11:00. let's be careful here. the ball is in the senate's court. the house of representatives did its job. we passed a bill on august 1st. it extended out every one of the rates and if the president and senate don't like it, it is their responsibility to make an amendment, make the change, have a vote and send it back over to us, we have done our jobs. >> you think you will be voting on a bill today? and, of course, democrats are willing to raise the threshold for raising marginal tax rates to $450,000. mcconnell holding out $550,000 or higher. would you vote on either one of those? >>
of congress are deeply grid locked with no sign of coming together, then we're likely to go over and stay over. and that's very problematic. >> reporter: going over the cliff would restore higher bush era tax rates and trigger deep spending cuts on january 1st. congress set up the harsh mechani mechanism, hoping it would force a compmise, but it hasn't. >> washington remains on square one in the fiscal cliff talks. >> reporter: congress reached this brink before christmas when speaker john boehner failed to get enough house republicans to support his solution, threw up his hands and said it's up to leader reid and the president. >> how we get there, god only knows. >> reporter: aides say reid's plan would avoid tax increases for people making less than $250,000, eliminate spending cuts and restore unemployment benefits. >> what needs to happen now is for a sense of desperation among lawmakers to kick in and realize that if we go past january 1st with no deal, the markets are likely to decline in a significant way and alarm most americans. they don't want to have themselves blamed for that. >>
't congress find a way to work together, even with a gun at their head? >> because they don't get along. i think it may have been naive of some of us to think that the election was going to be the magic formula and they would play well in the sand box after the election. what's it going to take? i think it's going to take for us to go off the cliff and the american public demanding action. i think we're going to see that over and over again. it's going to be the american public demanding action on gun control. it's going to be the american public demanding action on immigration because we have to force them to act. >> but american public also has to stop acting as if they play no role in this. when you look at our politics over the last 20 years, if you were a moderate democrat and if you were a moderate republican, you frankly have been forced out of both parties, so as a result, you've lost the people who can actually bring sides together and say, hey, i could bring 18, 20 on my side of the house to come together. i can bring 18, 20 over here and we can construct a deal. the problem now
if congress does not get its act together. >> and also -- this is $100,000. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection, and because usaa's commitment to serve the military, veterans and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. >>> well, we have just wrapped up the worst five-day run for the three major averages in six weeks on perceived lack of action and lack of progress from the white house. let's get back to eamon javers who is in front of the white house, and i believe you have a little bit more information us about the fiscal cliff meeting that just broke up be
a flier on congress getting it together, even if the president is coming back early from vacation? >> no. it would be a mistake to be trading your portfolio based on your outlook, this is the most widely covered story i've seen in a long time. it would be a bad idea to try to invest, making a prediction around the fiscal cliff. what you do know, we believe when this gets solved, and it will, that the stock market looks pretty cheap to us. when they get behind this, there are certain sectors that will do very, very well. >> david, is it possible, i mean, if this goes well into january, and we are down 500 points, 600 points, what do you do? >> well, i think you have to look long term, carl. that's a little bit trite, but ultimately you have to look at what's the real impact on the economy and corporate earnings. i agree, i'm sure something gets done. neither party wants us going into a recession. whether it's a grand deal or smaller deal, once we get that uncertainty removed, that's going to be the trigger to getting the market going higher, to getting corporations to spending more, to ge
and in the next few days, leaders in washington have a . -- an important responsibility to work together to do just that. unless the congress of president act immediately, every american will be forced to pay for the largest tax hike in our nation's history on january 1. at the same time, the federal government, including our armed forces, will undergo deep budgetary cuts. these are the cuts that president obama promise to run the campaign would never take effect. what we need to reduce spending, we can do it in a smarter way. economists not representing either political party have continually warned that going over the so-called fiscal cliff will lead to devastating job losses at a time when american families and small business owners are still struggling to get back on their feet. in contrast, the nonpartisan congressional budget office estimates extending tax rates for all americans would create the 1.8 million jobs and increase the nation's gross domestic product by almost 1.5% next year. every american taxpayer that the tax cut in 2001. those cuts were good for the economy and families. c
. will congress and president obama be able to pull together a fiscal cliff deal in time? we'll let you know, when we come back. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> well, of course, it isn't just the fiscal cliff we're counting down to. it's new year's eve and we want to say happy new year to everyone who is joining us or watching the program here today. earlier, we asked have you made any resolution, trade or otherwise, for 2013. we've got a couple at least. one here from jeff who says i resolve to invest in pets and pampering. petsmart people love pets and profit from it. that's true, actually. ac tweets to accomplish m
bailout. put together, congress didn't take it, and the stock market reacted wildly. huge declines and we've talked to members of congress and said that memory is fresh in their minds. they didn't want to hurt people again with having their 401(k) get slammed. i feel like there are going to be many more morning in the first half of the year where we'll talk about what are futures doing. the congress is it the 11th hour again. >> christine romans, at the capital late last night. congresswoman marsha blackburn, republican from tennessee, voted against the bill. congresswoman, good morning. good to see you again. >> good morning. good to see you. >> before we get to why the no vote, take us behind the closesed doors and give us details that have not come out yet. what was the room like? >> oh, we had a very spirited debate, as you can well imagine, but it was healthy, it was good and members of the house, republican members of the house decided we are done with kicking this can down the road. it will happen no more. we grabbed that can, and that can is called spending cuts, it is what our co
and all the members of congress who banded together in a bipartisan way to get john home for christmas. amen. jon: yeah. it was a job well done, and, you know, i know your office shares in the -- >> a pleasure. jon: -- as well, and just getting him home for christmas, some people thought it would take a miracle, and it happened. congresswoman ileana ros-lehtinen, thank you. harris: the u.s. labor department reports new claims for jobless benefits dropped last week by about 12,000 to an estimated 350,000. there are still well more than 12 million americans, though, out of work. we do know that. and as we have seen, new jobs most up come from small businesses. time now to spotlight small business owners and how they find a way to thrive in this tough economy. kathy dino is cofounder of painting with a twist. she has a simple conception; a little paint, a little wine and a lot of fun. kathy, thanks for being here. i tweeted this morning seeking feedback from your customers, and, boy, did i hear from them. and i also heard from people who were curious. my questions come from them. what is
tradition in both houses. you have a split congress with both sides not working together. you are exactly right, this is the majority of one house, moving into the other. host: are you still there? caller: i agree with his explanation, but everything comes across two very read and he does not bring it up for a vote, then my senator, that meet stabbed now -- at least cavanaugh -- debbie stabinau, does not get her chance. she never gets to prove herself. that is what i am concerned about. for example, they make the same amount of money that i do, owning a restaurant. i pay three -- $30,000 in taxes, now the government is asking me for $40,000? how is that fair when we make the same amount of money but my business makes me -- makes more? how, i do not get charged at the uaw rate? guest: it tax law is complicated and complex. you're giving tax of the profits the to earn, not the total revenue that you bring in. if you have a restaurant that is burning, you should be proud of the job you are in and it is a little bit frustrating, which in the stand. i cannot really defend the tax code. this do
, this affected ports from giewrch houston. how did these two sides get together? >> well, they did what congress has failed to do. that is they worked out a deal. but since this deal is still not entirely permanent. neither side is giving specifics as who who bundle and if both sides bundle and how much. the key sticking point all along has been the long shoreman get paid more the heavier a container is the owners of the shipping company wanted those capped. the longer shore men did not. this from the federal mediator in washington today quote. the container royalty payment issue has been agreed upon in principle by the parties. subject to achieving an overall collective bargaining agreement. the deadline now is february 6th. so five and a half weeks from now, if this deal is not permanent then, we're right back to where we were earlier this morning. harris? >> harris: so like washington they have somewhat kicked the can down the road. we have to see what happens. >> exactly. phil, i know the recent port strikes in california cost the economy, what, about a billion dollars a day. >> yeah. this o
obama can accomplish in his final term and whether lawmakers in congress can find a way to work together for the good of us all. we are also keeping a close eye on the economy and the situations in syria and egypt. a lot of uncertainties ahead. and we will be here covering all the news as it happens. in new york i'm shepard smith. fox news. >> rick: thank you, shep. after a day of drama on capitol hill that left americans wondering whether or not our elected officials could stir the country away from the fiscal cliff. it now looks like a compromise deal will, in fact, be sent to the president's desk for his signature. multiple reports now that the house will vote tonight on the senate bill that passed in the early hours of this morning. a lot of upset over this bill because it doesn't cut spending the way republicans would like it too. without any better options and time running out we're told republican speaker john boehner will bring the senate bill to the floor for a vote. possibly at some point over the next hour or so, and that it's likely to pass. we'll have live coverage of this b
in congress, guys get your act together. if there is a deal tomorrow, how do you think is this is going to affect consumer confidence over the next six months? >> it might slightly help but already there is a tremendous damage done. it's no surprise that consumers are not confident. to be confident you have to have some slight semblance of certainty and we haven't had anything like that. consumers want to think long term and budget but trillions of dollars and hundreds of millions of people waiting to fined out what president and congress do at the last minute. not only is the indicator numbers down but the dow took a dump on friday and it's been down for five straight days. >> arthel: something i touched on the intro. current economic conditions rose to the highest since 2008. what is driving that part of the equation? >> i think producers are trying put money to work. unfortunately they are battling terrible headwinds but the headwinds, you have a tremendous amount of money that has been quite some months waiting to be invested, waiting to be put toward productive uses, buying plants
is prepared to step in today if congress can't get something together to deal with the fiscal cliff deadline just 14 hours away from now. an update from 1600 pennsylvania avenue moments away. >> well, it will be somewhere between 8,000 to $12,000. so i'm not looking forward to that. >> is that more than you expected to go up january 1st. >> even a dollar's more than i can afford, yes. so not good news heather: thousands of first-responders are joining friends and family paying tribute to a hero firefighter gunned down in the line of duty. you're looking live at the scene. this is in webster, new york, where the funeral of getting underway. the 19-year-old volunteer was one of two firefighters shot and killed on christmas eve while responding to a fire set by gunman, william spengler. we well have much more on this coming up. we have potential breaking news. potential movement on the senate on the budget battle. brand new hour of america's news headquarters. i'm heather childers in for martha maccallum. gregg: i'm gregg jarrett in for bill hemmer. the number two in the republican senate sayin
fix isn't passed by then, the start of a new congress will likely delay matters even more. which is why the focus now is on reaching a nano-deal. >> the minimal that they can put together to avoid the fiscal cliff which will have sadly almost no impact on the long- term debt trajectory, but right now, neither markets nor the congress care about that. >> reporter: congress has never been terrific at long-range planning, but now the definition of long range seems to be 48 hours. >> you don't hear people talking, well a year from now, we really need to be here. you hear, well we need to do that this week. we need to do that day after tomorrow. this short-time frame horizon is new and i think people who think we are going to have tax reform and entitlement reform next year are way, way off base. >> cutting short his vacation but it's unclear whether he has the power to force a last minute solution through a deeply divided congress. >> darren gersh. >> so, joe, how bad could that be? >> i had, susie. unfortunately, the economy has been gaining momentum, if you look at the labor market
life with his you know that the and pretense of humility, he's the founder who brings us together to fight the common ground. the continental congress creates a committee. franklin, jefferson, john adams, jefferson gets to write the first draft, the wonderful library of congress has the first draft out in the library of congress and you see them draft and say we hold these truths to be sacred. we hold these truths to be self-evident because their rights come not from the dictates of the dogma of one religion or another but for the consent of the governed and irrationality and reason. the sentence goes on in the draft to say they are endowed with certain inalienable rights. john adams and riding by their creative certain inalienable rights. that balance of the role of the divine providence and our own rationality and reason and consent of the government informing our government, that type of balance created this new in one bastionwe created ba done marku devotee liste ..d to try to find the common ground and happened at the constitutional convention after they had come back for th
a split congress the two sides aren't working together the two parties aren't working together. but you're exactly right. this is an attempt for the majority of one house to thwart the majority of the other. both houses are frustrated. caller: i agree with his explanation. but if everything comes across to harry reid and he doesn't bring it up for a vote, then my senator debbie stab now who claims a to be a spall business backorer doesn't get to show her cards. so i have to believe the commercials that she put out to get herself reelected but then she never gets to prove herself ptf. and that's what i'm concerned. my brother works for the uaw. he makes the same amount of money that i do. he pays about three grand in taxes. i pay 30. and now the government is asking me for 40. how is that fair when we make the same amount of money but my business makes way more than 250,000? now, but i get charged at the rich man's rate. how come i don't get charged at the uaw rate? guest: tax law is complicated and complex. i'm not going to try to defend all of it. as a small business person you're get
wish for 2013 -- maybe a big lottery win is your wish for 2013. >> hopefully, congress can reach a deal. >> no more fiscal cliffs and werve can work together in unity -- and everybody can work together in unity. that is one wish. >> we still have plenty ahead. >> fox 5 news at 4:30 starts now. >>> good morning. it is 4:30 on this monday. happy new year's eve. it is monday, january -- december 31st. it is december 31st. getting ahead of ourselves there. >> i'm wisdom martin. >> i'm sarah simmons. >> time to talk about weather. we say hello and good morning to tucker barnes. >> this is the last time we'll do weather this year for this show. >> doesn't matter. as long as the redskins are winning. >> it is great. >> we'll talk about it all morning. i have about five texts from tony that got into my phone between 11:00 and 1:00 in the morning. >> you meanwhile you were sleeping. >> he was at the game. i was sleeping. temperatures in the 20s and low 30s. he got increasingly more giddy as the score was changing. >> did he know you were sleep something. >> i'm sure he does. reagan national 29.
at that time. we were able to get a team together and point out the failures and fix it. >> the testimony to congress helped convince the government and public although there was always risks nasa could learn from their mistas and they should go ahead. >> the launch pad disaster may have allowed nasa to get to the moon fster than scheduled. >> we had an opportunity to work from the mistake. with you to accelerate the program. they had a goal to land on the moon by the end of the decade of the 60s. >> apollo 2 or 3, apollo 4, 5 and 6 were undamaged to test the sa safety of the probabling et. took two years before any went into orbit. apollo 7, 1968. >>> the space program was back but the slow re-entry wasn't going to be enough to meet the deadline and beat the soviets. it would require a daring and dramatic change of plan. >> nasa rolls t dice betting so, this board gives me rates for progressive direct and other car insurance companies? yes. but you're progressive, and they're them. yes. but they're here. yes. are you...? there? yes. no. are you them? i'm me. but those rates are for...
increases and spending cuts. >> congress has about 24 hours to get itself together. that is worthy deadline can happen. if they do not have a deal >> there could be some havoc in place in terms of the market going up and down. i think that they are very close. with a lot of these tax provisions up. the fiscal cliff is about taxes and spending. but the big question is that what is the spending issue. if they do have an impact it should not be an impact on the economy. >> people are really losing faith? >> these people of that nearly two years to get this done. for all of the whining... i do not really think there's much sympathy from the american people. the fact of the matter is that there is not just the fiscal cliff but also there is a pending bill that is being held up by the house of republicans. to make sure that the price of milk does not double puriwith nearly $7-for $eight! and can they still with the spending cuts? right now, we are going to hear that it is just going to kick the can and down the road. everything including the spending cuts will be on the table. >>> the impression
starbucks is urging both sides to compromise. its employees are now writing "come together" on coffee cups in all washington, d.c., area stores. now, if congress does not act, experts believe the economy will fall back into a mild recession, duarte, by mid-2013. >> it's a tough situation. tara mergener in washington. thanks. >> coming up on the "morning news," shark tank soaker caught on tape. the glass of an aquarium suddenly bursts, drenching spectators and sending fish flying. this is the "cbs morning news." one day george got an important letter. he's built a rocket ship to travel into space." google, how far is earth to the moon? the moon is 238,900 miles... "the great moment had come." 3, 2, 1... [ giggling ] and it feels like your lifeate revolves around your symptoms, ask your gastroenterologist about humira adalimumab. humira has been proven to work for adults who have tried other medications but still experience the symptoms of moderate to severe crohn's disease. in clinical studies, the majority of patients on humira saw significant symptom relief, and many achieved remission. h
was modestly optimistic yesterday but we don't yet see an agreement and now the pressure is on congress to produce. >> that was president obama urging republicans to come together on a fiscal cliff deal. the comments drew a quick response to john boehner who said republicans made every effort to reach the balanced deficit agreement that the president promised the people. we have been responsible and reasonable. the president is the one who has never been able to get to yes. we are learning that the fiscal cliff talks have hit a major setback today. joining us is oklahoma congressman tom cole. what are you hearing? are you hopeful that there is a deal today? >> i am probably the last optimist in washington. all the parties that can make a deal are in town. that is a step in the right direction. there is very serious negotiations going on now between senator mcconnell and leader reed. they have found common ground. i wouldn't be surprised that there are bumps along the way but the senate will get something done and it moves to the house. and what senate would be extraordinary important. >
together are putting that at risk. >> mika, this congress facing a $16 trillion debt, they've really only passed two bills of significance over the past two years. the last lame duck session, they added $4 trillion to the national debt. and they just did the same thing last night. an additional $8 trillion this congress has added over the next decade to the national debt, knowing that we face a debt crisis just of monstrous proportions, and they have been so reckless and irresponsible on both sides of congress. >> i would agree with tom on this being the worst. i think a couple of things. first of all, if there were more women on the front lines of this, i don't think we'd have these problems. i really don't. i said that a few times, and it got very interesting, diverse response. but sam stein, mitch mcconnell, he's not easy to work with. he hasn't been the easiest to work with. and all of us thought he was so easy to work with at the last minute. there's got to be something else going on here. is there some sort of second part of this, do you suspect, that actually might give the republi
have seen over my 25 years of congress are what bring us together to try to help people. and the speaker should not use this opportunity to tear us apart. i was here last night when we got the word through congressman king that the speaker was going to pull this bill. what the message said was, well, we can do this in january. we'll do it sometime later in january. in the new congress. as congressman king said, we can't wait. my district was devastated by this storm. i would ask the speaker pain boehner, come to sea bright, new jersey. drive through sea bright, new jersey, a town that has less than 2,000 people. the business district is totally destroyed. one or two stores have reopened. the rest are closed. most of the people still have not been able to return to the town. go to union beach, new jersey, also in my district, where you can see that now everything is exposeds -- exposed. we still have people that do not have place to stay. that are looking for an apartment or staying in motels or looking for a trailer to be placed next to their homes and still don't have i
effect at midnight, even lawmakers are now publicly pessimistic about the ability of congress to, well, get anything done. at best, democrats and republicans will patch together a limited, short-term deal to avoid the most immediate economic impacts of the fiscal cliff. with 15 hours to go and counting, members of congress are disgusted and embarrassed. >> when the future of the country, you know, rests in the hands of 70 and 80-year-olds who have jet lag, it's probably not the best thing. >> something has done terribly wrong when the biggest threat to our american economy is our american congress. >> the senate will reconvene at 11:00 this morning, but after a day of public gamesmanship and little obvious progress behind the scenes on sunday. >> there's still significant distance between the two sides, but negotiations continue. >> i want everyone to know i'm willing to get this done, but i need a dance partner. >> mitch mcconnell called on vice president joe biden to be that dance partner. biden has brokered 11th-hour deals with the republican leader in the past. mcconnell's appeal c
and polarization. the dysfunction in the sense that our congress can't get together to do the basic thing. and polarization in the sense that no indication that it will get better. so think of this very simply. if you are an investor, if you're running a business and you have to make decisions over a number of years, the uncertainty premium goes up. which means you price out certain investments in plants, in equipment, hiring, which is not good for the economy, not good for consumers and not good for the top line of revenue growth for companies. this is not a good thing at all. >> okay. this is not a good thing at all. and mohamed, it sounds as if you think this is going to be the situation kind of like the new normal when it comes to politics. we're going to be talking about this again and again and again. i mean, we were talking already about the debt ceiling being the next negotiation. doesn't that sound like it's going to be part of the deal this time around, even though it's a small deal to get us over the fiscal cliff. does that mean this is the new normal in washington and what doe
tore perspective. i would hope that the white house, the senate, the congress would be able to come together, republicans and democrats to layout a more strategic vision for the future. and we need to simplify the tax code and make it fairer. we need to make sure that government spending is brought under control, and not in a corrosive way or an abusive way, but in a way that makes sense we we can demonstrate so we are serious about controlling our deficit. we have a trillion dollars worth of deficit over year, and we need to sustain that. we know the wealthy will have to pay more and the poor will have to have fewer benefits and the middle class will have to deal with fewer programs and the middle class will have to give away subsidies in exchange for a lower tax rate, but swrae to move forward and create more jobs and grow the economy because the only way to head the recovery. >> i want to pick up on the word certainty, and i have a feeling uncertainty may be the new normal. our business leaders are going to have to figure out a way to make money in a less certain environment. tha
, nationwide, i mean, people don't like congress. they don't like the fact that people can't work together, the people they elect seem dysfunctional. it is not a win for either side but i think that all you have seen in the weeks since, i don't know, thanksgiving, is sort of this angling to set up who could potentially will failed. >> tea parties in republican congress, are those the ones that will be at fault here? i mean, but we're also reading they're taking a step back right now on the very issue of the debate of the fiscal cliff. is it really the tea party congress members or not? >> i think it's hard to predict exactly who might get blamed if something doesn't happen. that seems too far in the future for me but if you look at all of the piece that is are in play, the one thing we haven't talked about is the debt limit. it is going to be hit soon. and then the treasury can use extraordinary measures to extend it but caused the fight that made us sit here today to talk about the quote/unquote fiscal cliff and the republican haves the boehner rule to ask for a dollar in cut for every do
points at the moment. inch investigators reacting to the fact that congress got its act together after a fashion and passed legislation to avert for now the so-called fiscal cliff. there are still a lot of arguments yet to be had. they didn't address some of the biggest issues, like for instance the see questions sister that would cut half a bill kwroepb dollars from pentagon spending. the investment community seems to like it, the dow up 219 points. we'll keep and eye on it. >> reporter: the control room a brand-new hour straight ahead for ou. as you saw the markets enjoying the deal hashed out last night, lawmakers steering us away from the fiscal cliff but no shortage of road blocks on the horizon. what it all means, what is next for taxpayers, 77% of whom will see their taxes go up now. some of taxes tied to obama care new portions of the law kicking in on january 1st, a live report on who is paying more and for what. wait until you hear about a brand-new lawsuit that is being filed by a convicted killer who says the beer made me do it. he says the beer makers should have warned hi
our stumbles. there is a novel thought. similarly the start of a new congress offers an opportunity to look forward with hope and aspiration with the opportunity to work together. again, a novel thought. to deliver on behalf of those who put their trust in us. let's not pull the rug out from both those things before they have even had a chance to begin. the start of the new year, new congress, do not have to be colored by the partisanship that's characterized the past year. there is a last-minute absolution to be had if we can seize the spirit of the season and do that which would then all too little of this past year, compromise. come together. let's ring in the new year with a fix. all be it a modest one, for the fiscal cliff and start off our new year and new congress with a proper welcome for our constituents and our colleagues. i yield back. the speaker pro tempore: the gentleman's time has expired. for what purpose does the gentleman from minnesota rise? without objection. >> madam speaker, many years ago our friends on the conservative side of the political aisle told us that
simultaneously as chair and ranking member in a standing committee for the entire congress, but we worked together on numerous measures assisting america's greatest job generators, our small businesses. in a shining example of what is possible with civility and a bipartisan team worked, senator ted kennedy and by co-authored the landmark genetic nondiscrimination act to stop insurance companies from denying and dropping coverage based on genetic tests on individuals would not forego those potentially lifesaving tests. at that juncture, democrats were in the majority. he approached me and he said essentially because of my work on the legislation, that had made possible, it should have been kennedy-snowe, a magnanimous gesture from the legislative lion. it passed in 2008 and has been the first major civil rights act of the 21st century. madam president, there are templates to work together effectively in the united states senate on behalf of the american people, but on occasion, it is the very institution of the senate itself that is preserved when we stake out common ground. even in the hi
that our elected officials cannot come together to make decisions in the best judgment of the people. >> the fact that congress can't do anything is a laughingstock anyway. nobody has any faith in them to begin with. >> reporter: what happens next? house republicans are huddled trying to figure out if they would have the votes if they made changes to add spending cuts. if not, we're told they will take a vote some time tonight on the measure the way the white house and the senate wrote it. more to come. >> more to come as always. get some sleep. kelly o'donnell on capitol hill. our chief white house correspondent and political director chuck todd joins us now. chuck, there are some voices out there saying, good for the house republicans, they're standing on their principles. but there are also a lot of voices saying, how much longer is this going to take? >> reporter: it may be a new year but old habits are dying hard with this congress. we're in the last throes of the typical theatrics that have become the norm in washington over the last couple of years. there's going to be a few m
, i hope we can &plast day, as we puu two peopl together basically to esolve t" this."yarmuth says::"the american people are looking att congress with disdain and rightfully ss. with the deadline of the fisccl cliff only hours away, we failed to to move the economy forward o the middle class." thhehouse is scheduled to come back tomorrow at noon hhre in maryland...the ownerof seeeral restaurant is nervously ann breakthrough. and as john businesssan is worried... what wwll bbein the deal deal they're countinggdown thh king...hates to beethe grinch. but he's received no president...or congress...that fiscal cliff...is imminent. "i think 2013 will bring a lot off uncertainty and a lot of challenggs."kiig owns severall restaurants ...and ffars... that starting new year'' day...there'll beautomatic increasee...in the federal payroll tax.(king) "and itts a the board for all of oor empllyees, they''e gging to feel it, their paycheckks going to feel it, we're going percent."king says y that two - ...that...combined with addittonal eepenses...to impleeent...the new health caae law...could
. tonight we will come together and do something else. with 37.5 hours left to go in the 112th congress, we will display to all of our constituents that yes in the final analysis we have the ability to come together, to act not as republicans, not as democrats, but as americans. 435 of us sent here by our neighbors and friends to try to do the best we can, realizing there are 435 points of view that sit in this chamber. and that what we strive to do is to reconcile those differences to create consensus for without consensus democracy cannot work. there will be time for partisan differences. there will be time for partisan confrontation in the days in the 113th congress. but this night as we end the 112th congress, as we have strived mightily to come to an agreement with great difficulty and realizing that all of us have very strong feelings i severely regret that this is not a big, bold, balanced plan. >> i yield two minutes to the gentleman. >> the gentleman recognized for an additional two minutes. >> i recognize this is not a big, bold and balanced plan. we had an opportunity to reach su
an act of congress to raise it. so all of these things are going to come together in two months time and people are already now predicting a fight, if you can believe this, even bigger than the one we've just witnessed over the past several weeks, maura. >> and looking forward to what happens next, you mentioned the house and both speaker boehner and nancy pelosi said they would consider the plan, although nancy pelosi did not go as far as to endorse it. what can we expect in terms of the house as far as how we can receive this? >> i've got to tell you, the veteran congressional watcher, i am fascinated to see what the house is going to do. here's the argument republican leaders made in the senate and are likely to make in the house tomorrow. yes, this is a horrible bill for us. we're asking many of you to vote against fundamental, a very basic tenant of your political belief, your philosophy, and that is never to vote, to raise taxes in any way, shape or form although technically, we should -- >> i just want to cut you off to report the breaking news that the senate has now approved
is continuing a campaign to help congress reach a deal. they asked d.c. area barristas to write "come together" on coffee cups. those are the things we just thought you should know. >>> well, time now for the "news nation" "gut check." there's no deal yet to prevent the country from going over the so-called fiscal cliff. income tax rates rise on everybody, also going up, payroll taxes, capital gains, dividends, estate and gift taxes. 27 million more people paying the alternative tax. $110 billion in spending cuts going in to effect, unextended unemployment benefits expiring and payments to medicare go down. what does your gut tell you? are you worried about what will happen tonight? go to facebook.com/newsnation to vote. >>> and take a look at what the "news nation" is saying about yesterday's "gut check." do democrats and republicans want to go off the cliff? 31% said, yes. 69% said, no. >>> that does it for this edition of "news nation." i'm t.j. holmes in for tamron hall. "the cycle" is up next but first look at the holiday wishes from all the people here at msnbc. we're working hard behind
an important responsibility to work together and do just that. unless congress and the president act immediately, every american will be forced to pay for the largest tax hike in our nation's history on january 1. at the same time, the federal government, including our armed forces and defense workers, will undergo deep, across the board budgetary cuts. these are the cuts that president obama promised during the campaign would never take effect. well we need to reduce spending, we can do it in a much smarter, more targeted way. going over the so-called fiscal cliff will lead to devastating job losses, at a time when american families and small business owners are still struggling to get back on their feet. in contrast, the nonpartisan congressional budget office estimates extending tax rates afro-americans would create nearly 1.8 million jobs and increase the nation -- rates for americans would create nearly 1.8 million jobs. congress's action to make the first tax bracket and% instead of 50% -- the child tax credit -- 10% instead of a 15% raised the child tax credit. there is still
ideas, attempting to move people along the pathway that will hopefully bring us together in a different way. >> i read that you have said that you will not lobby congress. is that correct? >> it is not my intention to be a lobbyist. >> our half hour is finished. thank you, congressman, for your time. but >> on friday's washington journal, a look at the fiscal cliff. an examination of home ownership in the u.s. later, a discussion on poverty and hunger. "washington journal" is live every morning at 7:00 a.m. on c- span. >> the california representative is retiring this year. we spoke with her in november about her time as co-chairman of the progressive caucus, as well as her opposition to the iraq and afghanistan worse. this interview it -- wars. this interview is for 30 minutes. retiring, 20 years in congress. why are you leaving? >> well, i had my i will say it this way, i was elected 20 years ago on my 55th birthday. do the math and 20 years and 75 years old and it is time for me to retire. >> what is next? >> i'm president for americans for democratic action. i was just re-elected fo
to congress, moving away from the extremes and bringing more centrists who can work together. i could give you a long speech about that when you combine those two things, you don't get a great work product. adam: congressman jason altmire, you mentioned harmonic convergence that happens in south florida. you're going to blue cross-blue shield up in tallahassee. you won't get that there. all the best to you, sir. congratulations on your service in congress. wish awe happy new year. >> happy new year, thank you. adam: so we'll get the republican take from senator john barrasso just a lit later in the program. he is kook discussing right now with other members of the republican caucus in the senate. they're talking about all of this. obviously the final physical cliff deal affects everybody, every aspect of our money, the markets, the economy. some say no matter what the damage has been done. we have money panel with wisdom to help us get through all of this. scott martin, is also a spewed baker fan. kill holme, and stephen hayes, writer at weekly standard and fox news contributor. i want to star
, together we are going to win on november 6th. >> republicans and congress have found a nominee who promised to rubber stamp this agenda if he gets the chance. we cannot give him that chance. >> what's up gangstas? it's the mi double tizzle. >> i like seeing the lakes. i love the lakes. i like cars. i like being able to fire people. i like grits. strange things are happening to me. i met a guy seven feet tall. i figured he had to be in sport but he wasn't in sports. ♪ for purple mountains majesty above the fruit plain ♪ >> corporations are people, my friend. >> guess what? i made a lot of money. i'm not concerned about the very poor. >> is this a category 5 crisis for the romney campaign? >> it depends whether they turn the campaign around or not. you have three presidential debates. >> what do pew want you want me romney? can't do that to himself. >> i accept your nomination for president of the united states! >> the first presidential debate now just a matter of hours away. i think it will be a great one. >> i like pbs, i call it big bird. i will call it the economy tax. it's
the markets do. we'll say this. president obama doesn't have to worry as much as the members of congress do because he's not on the ballot again. >> but if there's a second recession, doesn't that kill his second term? >> i hear republicans and democrats and obama want to come together on middle class rates. i think they'll make a deal in early january to extend some part. >> but are you saying this doesn't really hurt? if they go sometime next friday, nine days from now, will the market go down and come up or will it plunge? >> the republicans want to cut a deal before the cliff. >> i know that. but if this thing goes over the cliff, will there be term innocent damage to the economy like a new recession? >> republicans tell me they think if they can make a deal on rates early january the markets will fluctuate. >> i am hearing the markets have already reacted. >> for a couple days. couple days. >> yeah. >> i've heard another argument. a lot of people say, or at least people i've talked to, if they can't do it by the date, they can't count on anything gets done. it'll get worse every day. >
this deal together, i also saw in the hallways tone, the president's liason of congress. he has been here working on all kinds of issues, he has a lot invested in this too. there will be people who most folks will never know their names, the key staffers who work very close well these leader who's have done most of the heavy lifting to get to a deal. mitch mcconnell, up for re-election in his home state in 204 1 4 and has that to consider as he goes forward as you think about the pressure on republicans to raise taxes in this deal. they are going to acknowledge doing that. that can be difficult, as well as will they be able to achieve enough spending cuts. there is a political issue for mitch mcconnell personally as well as trying to lead republicans. the president will have made an achievement here. he did not get the $250,000 threshold, he was able to show he could give on that and bring in additional new taxes which is something he campaigned on for a very long time. as the assessments are done over the next few days, there will be the "winners and losers." much has to be determined he
from all around the country to stand here together to say we need a congress that governs. we need a congress that solves our problems. and we are especially concerned today about lifting up middle class families that are so apprehensive about the future and the working poor in the nation that kept getting pushed further and further to the margins. it's time that our congress acts and it is my great honor to introduce one of the members of the senate that is pushing for a reasonable solution. reasonable revenue for responsible programs. senator harkin has been an advocate for years. he represents the state of iowa and knows what the middle class is struggling with, and it is with great pleasure that i introduce to you senator harkin. [applause] isn't she wonderful? [applause] >> thank you, sister and for your great leadership. thank you for the best speech ever given tv to give and. it was just great. well, let's face it. this is a manufactured crisis. it's not of real crisis confronting our democracy inherent in our system. it's manufactured by the republicans. manufactured by the
if we can put a package like this together with a little bit less drama, a little less brinksmanship. >> reporter: the president will be trying to reach a debt ceiling deal with a new congress. winners from the november election will be sworn in tomorrow. tara mergener for cbs news, capitol hill. >>> it is a small step to getting our fiscal problems in order, but only for a couple of months. the stopgap measure appears, however, to be having a positive effect on wall street. the dow above 200 points and both the nasdaq and s&p 500 are up. of course there is reaction from taxpayers. our surae chinn is on capitol hill with more information. >> very dysfunctional. >> it's exciting. it's a little frustrating there's some kicking of the can. > reporter: even those who work and live close to capitol hill are frustrated at the procrastination of congress passing a late night bill to avoid falling off the fiscal cliff. but there is some satisfaction. >> a relief and that the stocks are showing -- [indiscernible] >> more than 98% of americans and 97% of small businesses will not see their in
congress a little bit. this is being put together piecemeal. the one thing, though, we haven't touched on, it appears unemployment insurance, those that affects 2 million americans, that is going to continue. what does that mean to those folks on wall street? >> reporter: well, that is good news, you know, for those on wall street because that means that you see that ripple effect. if the unemployment checks will keep coming for the people who are unemployed for a long time, they will still have money coming in, hopefully money to spend. and that helps certainly move the wheels of the economy forward. as for the broader market, you look at what is happening here, the dow is up over 100 points, after we heard from president obama after senate minority leader mitch mcconnell came out saying we are very, very close. so you're seeing this rally happen on these positive comments, coming from -- coming from washington. this really has been a session that has moved on this sort of trickle or drip, drip, drip of the headlines coming out of washington. one thing, though, that one analyst told me,
very, very well this year, lisa, and there's some suggestion if congress doesn't get it together before the new year, markets may force them to do so. we'll be talking more about that later in the show. lisa, thanks so much. we'll check in with you later. >>> piling on the concerns, treasury secretary tim geithner has warned congress hat u.s. will reach its debt ceiling on monday. that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital with an elevated fever. he is on a liquid diet an his condition is listed as guarded. his spokesman quotes him as saying i'm determined not to be dprumpy with all of this. >>> toyota has agreed to pay up in a major way, $1.1 billion to settle a class action suit over s
distinguished master counter. >> thank you very much, madam leader. 112th congress has about 46 hours left to go. this congress unfortunately has been most known for a unwillingness to compromise, an unwillingness to come together to act on behalf of the american people. today is january 1st. taxes will be going up on everybody in america. in america if we don't act. those relying on unemployment insurance, millions relying on unemployment insurance to make sure they can support themselves and their families. if we don't act, we will be at risk. vice president biden has worked very hard to come to a compromise. by definition a compromise has elements in it that each party does not like, but by definition it has things in it each party should like of the the speaker said that if the senate passed a bill he would put it on the floor for a vote. the leader has pointed out we expect that to happen. we think that's in the best interest of the american people. we hope that our colleagues on the other side of the aisle can reach compromise. our members are reviewing the specifics of the compromise tha
and the president to get their act together. the president took a red eye flight back from hawaii. why did congress and the president go on raication at all. >> yeah, we all go to work. >> there is nothing on the table . kelley. >> a lot of people feel they are left in the lurch by the president and congress. and they didn't get the job done . here's what we are facing. we are teetering on the edge of the fiscal cliff. there are many members in congress who disaagree raising of tax. the president had gone up to $400,000 when house speaker boehner would raise the tax hikes . but the sticking point is enments and spending. >> clayton: the republicans saying that the president and democrats not forth coming enough on entitlements. here's what will unfold in a few short days as we break this down to you. >> put your seat belts on, people. >> clayton: tax rates will hit these numbers and you go up to 120,000 . you will see 31 percent up to 36 percent . in these tax rates as they climb up. >> here's the bottom line. average tax rate of 2,000 to $4000. it is an additional 13,944 . millionaire's status whi
's why congress has 11% job approval rating. >> even starbucks is getting itchy for an agreement. its employees are writing "come together" on coffee cups to encourage compromise. >>> hawaii's democratic governor will replace daniel inoue to represent the state of hawaii in washington, d.c. inouye died of respiratory complications last week. on the day he died, the late senator wrote to the governor asking for representative colleen hanabusa to replay him. she made it to the final round of considerations but didn't win that nomination. >>> former president george h.w. bush is in intensive care at a houston hospital with a fever and lingering cough. mr. bush was admitted to the hospital more than a month ago with bronchitis. he was moved to icu sunday. a bush family spokesman says the 88-year-old was alert and joking with the doctors but had yet to respond to fever reducing medication. >>> more than 250,000 people want a kansas-based church known for its pickets at soldiers funerals to be labeled a hate group. 253,000 people have signed an online petition on the white house website. it
of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now, if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what's called the sequester, these automatic spending cuts, and that also would have a better outcome for our economy in the long term. but, you know, so far, at least, congress has not been able to get this stuff done. not because democrats in congress don't want to go ahead and cooperate, but because i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> you talk about a dysfunction in washington. you signed this legislation setting up the fiscal cliff 17 months ago. how accountable are you for the fact that washington can't get a
of those cuts are in defense alone. >> well, the other part of the fiscal cliff is congress agreed that they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. and so what we now have is a situation where these automatic spending cuts go into place. now if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what's called the sequester. these automatic spending cuts. and that also would have a better outcome for our economy long term. but, you know, so far at least, congress has not been able to get this stuff done. not because democrats in congress don't want to go ahead and cooperate, but because i think it's been very hard for speaker boehner and republican leader mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit as part of an overall deficit reduction package. >> when you talk about a dysfunction in washington, you signed this legislation setting up the fiscal cliff 17 months ago
congress has about 46 hours left to go. this congress unfortunately has been most known for an unwillingness to compromise. an unwillingness to come together to act on behalf of the american people. today is january 1. texas will be going up on everybody in america if we don't act. those who are relying on unemployment insurance to make sure they can support themselves and their families. if we don't act, we will be at risk. vice president joe biden asked to come to a compromise. the definition of compromise has elements in it each party does not like. but by definition, that has things in it each party should like. the speaker said if the senate passed a bill he would put it on the floor for a vote. leader has pointed out we expect that to happen. we think that is the best interest of the american people. we hope our colleagues on the other side of the aisle can reach compromise. our members are reviewing the specifics of the compromise that has been reached to determine whether they can support that compromise read i am hopeful this congress wil will as one os last act
of january. unless congress did something will have a $5 trillion tax increase over the decade. a couple together this effort to strip about 85 percent of the tax cut back. because of that, because the president was in the position of being able to stop anything from happening, we ended up today rates are higher on the top 1 percent than they were before. we now move to the real issue, the next real issue which is spending. lou: wait a minute. you're getting me nervous. a freer going take go on to the next real issue in the first real issue gusts as 4 trillion what will republicans deliver under real blood the next guerrilla. no sense of all to everybody outside of washington. >> here is the good news. four fights. the first one, the president held all the cards. as long as he didn't sign something there was a $5 trillion tax increase. the question was how little damage could you get away with because he held all the cards. lou: can i stop you there. the republican party voted for that. they bought into -- the push toward a temporary tax cut. then they put forward a participation. all th
's instructed senator harry reid and senator mitch mcconnell to come up with a plan that can pass in congress. his brief comments a short while ago came after a white house meeting today with congressional leaders that ended with no deal. ahead of that, investors lost hope lawmakers can come together in the time remaining. in the last few minutes of trading, stocks sold off. the dow tumbled 158 points, the nasdaq lost 25, and the s&p fell over 15 points. here's darren gersh with more on the critical work that has to get done in washington this weekend. >> port: thpresident declared himself modestly optimistic congress could still reach an agreement to head off huge tax hikes on january first, but he also warned lawmakers to get their work done. >> the american people are not going to have patience with a self-inflicted wound on the economy. >> reporter: senate republican leader mitch mcconnell called the white house meeting a good one and he told his fellow republicans he hoped to have a fiscal cliff recommendation soon. >> we will be working hard to see if we can get there in next 24 hours a
, a lot of the senators and members of congress, we're just going to keep pushing because we got to come together and get people to agree on some kind of package. >> are you hearing anything from the white house? the other day it was scott brown, the senator from massachusetts, who will be leaving in the new congress, but he said a deal was coming from the white house. hearing any idea what it looks like? perhaps a scaled down deal from president obama? >> yeah. i believe we need a big deal, but the more likely possibility, at this point, is it's really focused on a tax deal where they come up with some number between what speaker boehner and president obama talked about, that they address things like alternative minimum tax, and put together a deal that we either try to pass before the end of the year or get agreement to come back right after the first of the year and pass it through both houses. adam: the numbers were something like the president at one point was willing to raise his baht -- bottom line to 400,000. if that's the deal, can you guys, can the men and women in our politica
a stand, the ceo has«pt workers to write "come together[3wr" on cups. stocks continue to fall on fiscal cliff worries president and congress back in d.c. to talk about n'ozn budget today. toyota 1.1 billion dollar charge to settle a lawsuit has to do with more than 10 million vehicles recalled for unintended acceleration from claims the value of vehicles went down as a result. k)Ñ exchange#dww, with the bloomberg business report. >>> coming up, do you use those companies that give you a cash advance on your paycheck? you magb(:l be getting some of protected panda.id;gp >> good morning. 5:53. you see the embarcadero, bay bridge you don't see rain or traffic. we'll check in with sue and find out what is going on, on the highways. we'll find out where the rain is with mike. >>> u.s. department of commerce is due to release figures for new home sales, today's updates will hold stead if i not rise a bit they predict 375,000 in new sales. housing numbers slipped last month, new building permits ticked higher, commerce department is expected to release its new report at 7:00 this morning. >>>
in mind. show me a "federalist paper" and the discussions over how the constitution was put together where any of our framers argued that advise and consent is designed so that congress can basically damage the executive branch, judicial branch by refusing to consider nominatio nominations. so that's one big change. well, let's take a look at motions to proceed. motions to proceed, we see back here in 1932, there was filibustered. and then we see in the early 1960's a few. and then we see from about 1970, took off. realize that it was not thought that it was appropriate to filibuster just any debatable motion. the idea was it was an issue of deep principle, that you had to make a final stand on to block a bill from passing, that would be final passage. but now, suddenly, oh, hey, we can paralyze the process by even keeping a bill from getting to the floor. now, what sense does it make to argue that you're facilitating debate by blocking the debate from happening? no, many folks come to the floor and they say, "oh, the filibuster is all about facilitating debate, making sure everybody has t
but potent message, urging them to come together to find common ground." if a deal isn't reached between the president and congress. widespread tax increases and automatic government spending cuts will kick in next week. both sides are due back by thursday and have vowed to make a final attempt. stay with us. another check of the forecast. after the break. a puppy stolen from th hey, dad. i love boleros. share what moves you. go, go, go-- yes ! you've got to get one of these. share a great performance. what are you doing ? this tools app is awesome. share the perfect plan. that is awesome. i'm gonna be right back. share everything. this holiday, get verizon's share everything plan. unlimited talk, text, and shareable data across your family's devices. all in one plan. get a spectrum 2 by lg for $49.99 >> and a pop be stolen puppy--- oregon humane society is now home with his rightful owners. chris woodward tells us how social media may have played a role in his return. >> back in the arms, there's no idea what he has been true. >> i was excited. >> moments, they got to be able to see him
less brinksmanship, not scare the heck out of folks quite as much. we can come together as democrats and republicans. >> now, despite the agreement, another battle is looming. in february congress will have to decide on raising the country's borrowing limit. >>> and after days of dealing with fiscal cliff negotiations, president obama is on his way back to hawaii to finish his vacation. the president left late last night. the obamas began their annual end-of-the-year vacation on december 21st, but mr. prom was forced to return to the white house last week for fiscal cliff talks. the obama family returns to the white house this coming weekend. >>> the fiscal cliff compromise is being hailed as a victory for middle class families too, but you'll still take home less pay this year. the payroll tax which is the amount taken out to go to social security will return to $6. -- 6.2%. for the past two years it had been lowered to 4.2%. for an average family making $50,000 a year, this means you'll be taking home about $1,000 less this year. we're also talking about this on our facebook fan
on revenues. >> lawmakers on sunday were mildly optimistic. tough decisions ahead with six days left. congress will get back to work tomorrow in the hopes of negotiating a deal. >> now insta-weather plus and traffic pulse 11 together. >> if you plan to have out there, i would do with early. 55 on the west side. problem free on 70 prior to the beltway. out of the traffic is picking up in volume as you travel over towards 795. 65 on 97 in the glen burnie area. that is the latest on traffic pulse 11. >> that wintry weather is moving in. the radar can be deceiving. buildinging light snow in a around the staid. most of this is evaporating before hits the ground. tell me on my facebook page if you are seeing any snow at all. snow could begin to break out at any point. in-snow linerai-sn around la plata. temperatures around the freezing point. 33 around the airport. anywhere it is below freezing, will have anad snd snow better chance for accumulating. ocean city will have all rain today. the western part of the state has to worry about the wintry mix. baltimore changes into rain later this afternoon.
urging congress to shift its attention from the cuts than to fighting over taxes. if the cuts take effect, many jobs would be lost. starbucks taking a stand on the cliff. asking customers to write "come together" on cups. toyota will take a $1.1 billion charge to settle a lawsuit that has to do with more than 10 million vehicles because of unintended acceleration. good news for the housing market. homes i use will rise as much as 2.5% nationwide. they expect 2013 to be a seller's market. the best places to buy include cleveland and philadelphia. i'm ellen braitman with the bloomberg business report. >> 5:22. support pours into newtown, connecticut. a memorial that includes every gift and a letter. don't forget to e-mail us your response to our water cooler question of the day. will you be more likely to visit a maryland casino now that some are open 24/7? you can share your response at wbaltv.com and on our facebook page, or send us an e-mail to watercooler@wbaltv.com. >> we near the two-week mark of the shootings in newtown. >> the residence have a plan for a permanent memorial. >> it is
the issue as to what is it going to require for our leadership and for members of congress and the president to get together during these very serious times for this country. >> you know, speaker boehner, harry reid mentioned that they had put a bill forward, the senate put a bill forward in july, the house put a bill forward in august, but the bill in july voted to extend the bush tax cuts to households making under $250,000, in other words to increase taxes for those making above $250,000. you didn't vote in favor of that bill. no republicans did. but now, with a couple of days left to go, what happens? at some point we're going to have a number. there are going to be a lot of other things, it's going to be $250,000 or $400,000 or $1 million. how do you get a deal done? >> i think first of all it's got to start with the leaders and the president at the white house this afternoon, hopefully they'll agree to a framework. secondly it will begin in the senate, in my estimation, to address this and to modify maybe that legislation to go to the 400,000 the president suggested. my kerve wconcern
everyone together on his side and work with the other party on top of that. so, the congress is not operating as it was designed to operate. no question about that. there are a lot of reasons why that is the case. the country suffers when we do not have people in the middle that can work together and compromise and do big things. that is where most of the american people would like us to be but that is not the time of person we are sending to washington. >>neil: it would be far easier to slap on tax hikes than cut spending i would think against the bring and against the reality of everything hitting the fan spending cuts i thought would materialize. but they did not. if they did not materialize now at the verge of what locked like a public suicide watch how will they ever materialize? >>guest: the republicans have more leverage next time around than this time. i am sure spending will be a big topic of discussion when the debt ceiling comes up and when the sequester in two months expires. >>neil: we will go do the brink again. why, when there is not a deadline, can't we get so
of congress, if we go off the fiscal cliff and then go to all these shenanigans to patch something together. >> ken walsh, chief white house correspondent dante for u.s. news and world report. >> thank you. >> one year since a tragic christmas fire that captured the nation's attention. now, a shattered mother is speaking about the fire that killed her mother, her father and three daughters. her story, one year later, is next. [ male announcer ] this is sheldo whose long day setting up the news starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. back to the news. till you finish your vegetables. [ clock ticking ] [ male announcer ] there's a better way... v8 v-fusion. vegetable nutrition they need, fruit taste they love. could've had a v8. or...try kids boxes! one police officer who survived the apparent shooting ambush in upstate new york wishes he could have done more to help the volunteer firefighters who ultimately died. it happened christmas eve. police say a gunman apparently set a fire as a trap to lure first res
houses of congress will be back in session tomorrow. that will give them just five days to put together a deal to avoid the massive automatic tax hikes and spending cuts known as the fiscal cliff. >> president obama spent christmas day visiting with troops in hawaii. >> while back in washington uncertainty about the looming fiscal cliff continues. there has been to communication between republicans and democrats about how to avoid going over the cliff. before the christmas break, speaker john boehner was unable to get enough support from respects to pass his plan and help said it was up to the white house and the senate to avert the cliff. so now harry reid is believed to be crafting a plan of his own. it's expected to extend bush-era tax cuts. it would also include short-term spending cuts instead of the massive cuts that would occur if there is no deal. it would also patch up the alternative minimum tax that will hit even more middle class families and schedule a drop off for doctors. >> if republicans do give in and support the deal being put together by harry rei
to congress and saying we represent the one percent. that's unheard of. unfortunately, we get a party that comes together and say we recognize that we're here for all americans. and how do we do that? the idea that americans who go hungry is unacceptable. >> the republicans need to represent the red states. if you lookographics of the red states. represent the state that is you're from. >> no, and ip think that that is why if it comes to that, and i hope it does not, the roll call is in order because people in those red states need to understand what is at stake and who stood where. it's an old civil rights song. what side are you on. if it comes to that, that's exactly what the american people need to say, not to democrats, not to republicans, but to american people. that's who's going to be impacted by this. when you don't give your un employment check, when your payroll tax goes up, when your paycheck is not what it was, that's going to be to the american people. we will then have the bipartisanship because everybody is going to suffer together. >> you better believe it. >> and the
and congress appears not to be able to come together unless we continue bumping along. >> for once, i completely agree with you. that terrifies me to be honest. cnbc has been a rise above campaign. the election is over and put all the partisan rhetoric aside. starbucks in d.c. locations having the employees and maybe the employee's choice, not a formal campaign, but they come together on some cups. the message is clear. we have to change it from the outside in. if d.c. is not going to change itself and d.c. is not going to get together and rise above and solve this problem, it's you and me and customers and it's even corporate america needs to put the external pressure on to say listen, guys, we need to get a deal done. you are probably a billionaire by now. you don't want to see taxes go up, nor do i. i argued in part for the president's tax hike. not because i want to pay more. who wants to pay more? we need to get to the bigger problems and put this behind us and move on to solve the bigger problems that we have got in this country and part of negotiation is not getting everything
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